English judge: Undoubtedly, the update of the Smart Contract Law must be considered.  British and Wales senior judge believes that UK law needs to update blockchain based smart contracts. John Thomas, Baron Thomas of Comgid (Bracknashire) serves as the Chief Justice of England and Wales and is recognized as the most influential judge in the UK. Last month, Thomas spoke in an annual speech delivered by the British Legal Commission, an independent body that oversees the development and advancement of the law in the country, and recommends corrective measures to the government. Thomas's speech focused on legal reform in light of developments in the 21st Century, a move that could update UK legislation with the digital economy. During his speech, Thomas spoke about the efforts of the European Commission, the executive arm of the European Union, to explain how its laws are aligned with the growth of the digital economy. He pointed out how blocks work in digital currencies and blockades, and that the UK should also adopt such a method. He told the audience at this gathering: - "The European Commission certainly believes that changes to the law are required in the face of new forms of contracts, such as blockades or intelligent contracts. I have no doubt that our laws (as it will be) will require a similar update and change. " Why is it important - Last year we saw a number of smart contracts and blockbuster signatures, mostly in the United States, such as Arizona and Vermont, which included at least legal licenses. More recently, the state of the mob has clearly stated that it recognizes the business records that are based on the blockade system. In his speech, Thomas raised the question of whether the process should be "traditionally traditional" in the digital era. While he did not seriously try to reform UK laws in the digital era, considering his position, his confirmation and support for a solution to this work is a big step. .good luck. BRO 🆔 @triplej Me 🆔 @haji
author | haji |
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permlink | english-judge-undoubtedly-the-update-of-the-smart-contract-law-must-be-considered |
category | blockchain |
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author | evgenya86 |
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permlink | re-triplej-re-haji-english-judge-undoubtedly-the-update-of-the-smart-contract-law-must-be-considered-20170726t202148850z |
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